Some stops reportedly reside below 1.2370 (Wednesday's NY session low). USD/CHF plumbed an intra-day low a couple of pips shy of 1.2370 yesterday, after the International Atomic Energy Agency revealed that Iran had failed to stop enriching uranium by a UN-imposed deadline.
1.2382-1.2410 defines the intra-day range-to-date. Yesterday's pre-1.2370 low also marks the base since yesterday's eight-day high of 1.2437. The latter level approximates to a 50% Fibo retracement point of the fall from 1.2552 (Feb 12 high) to 1.2314 (Tuesday's seven-week low). Some buy stops are touted up at 1.2450, with more tipped at 1.2480.
Looking ahead to next week: SNB board member Jordan is slated to deliver a Tuesday speech entitled "Does the SNB"s monetary policy concept prove its value?". February's Swiss KOF survey will be disclosed on Wednesday. February's Swiss manufacturing PMI is due Thursday.
No comments:
Post a Comment